Electric Traction Motor Market by Type (AC and DC), Power Rating (Below 200 kW, 200-400 kW, and Above 400 kW), Application (Railways, Electric Vehicles, Elevators, Conveyors, and Industrial Machinery)

    30-October-2020 | 208 Pages | | Report Code : RC-237

The electric traction motor market is projected to grow at a CAGR of 23% from 2020 to 2027. Traction motor is an indispensable part of electric vehicles, in this manner rising interest for electric vehicles is powering the interest for electric vehicle Traction motor. Rigid outflow standards and ascend popular for electric vehicles combined with weighty motivators gave by overseeing bodies to electric vehicles are powering the interest for electric vehicles. Quick extension of electric vehicle charging foundation, decline in electric vehicle costs because of decrease in battery costs, accessibility super quick chargers, and expected boycott over fuel controlled vehicles are moving the interest for electric vehicles, which thusly is probably going to impel the interest for electric vehicle Traction motor.

The execution of electric traction motor offers extraordinary preferences, for example, expanded productivity, capacity to diminish the utilization of power, and least prerequisite of support. The rising accentuation towards the speed railroads, trailed by the growing metro rail network are some different elements prompting expanding reception of electric traction motor. The components hampering the development of the global electric traction motor market incorporate the significant expense needed for the assembling and planning of the engine and challenge identified with the overheating of the engine.

Asia Pacific held a significant portion of the worldwide Electric Traction Motor market, regarding income, in 2018, which is ascribed to support the interest for electric vehicles across China and Japan. Presence of electric vehicle makers combined with electric vehicle battery producers, prompting lower cost of electric vehicles, has filled the interest for electric vehicles across China and Japan. Additionally, different nations in Asia Pacific, for example, India, Pacific nations, and those in ASEAN, are quickly growing electric vehicle charging framework, so as to build deals. Thus, interest for electric vehicles is extended to rise altogether during the conjecture time frame, which thusly is probably going to push the Electric Traction Motor market. Asia Pacific is trailed by Europe and North America, as far as portion of the worldwide market.

Key Segments of Electric Traction Motor Market are:
Electric Traction Motor Market By Type
•    AC
•    DC

Electric Traction Motor Market By Power Rating
•    Below 200 kW
•    200-400 kW
•    Above 400 kW

Electric Traction Motor Market By Application
•    Railways
•    Electric Vehicle
•    Others

Electric Traction Motor Market Segment By Geography
•    North America
o    U.S.
o    Canada
o    Mexico
•    South America
o    Brazil
o    Argentina
o    Rest of South America
•    Europe
o    Germany
o    France
o    United Kingdom
o    Italy
o    Spain
o    Russia
o    Turkey
o    Belgium
o    Netherlands
o    Switzerland
o    Rest of Europe
•    Asia-Pacific
o    Japan
o    China
o    South Korea
o    India
o    Australia
o    Singapore
o    Malaysia
o    Indonesia
o    Thailand
o    Philippines
o    Rest of Asia-Pacific
•    Middle East and Africa
o    South Africa
o    Egypt
o    Saudi Arabia
o    United Arab Emirates
o    Israel
o    Rest of Middle East and Africa

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